Private equity firm Apollo Global Management has made an $11 billion offer to buy Paramount Global’s Hollywood studio, Paramount Pictures, according to The Wall Street Journal.
Private equity firm Apollo Global Management reportedly made an $11 billion offer to pry away Paramount Global’s Hollywood studio, Paramount Pictures, from the rest of media heiress Shari Redstone’s debt-saddled company.
The stunning offer comes as an independent committee of the company’s board of directors reviews a competing bid from Skydance Media for all of Paramount Global — which also owns CBS, Comedy Central, Nickelodeon and the Paramount+ streaming service, The Wall Street Journal reported Wednesday.
A rep from Paramount Global declined to comment.
Apollo, which has $512 billion of assets under management, did not immediately respond to requests seeking comment.
Apollo, led by Marc Rowan, also reached out to a special committee formed by Paramount about a possible takeover or asset purchases, Axios News had reported earlier in March.
Paramount Pictures, the studio behind such flicks as “Top Gun: Maverick,” “Mission Impossible 8,” and “A Quiet Place,” was also of interest to Netflix over the past few years, The Journal reported.
